As costs expand and timelines elongate in bringing new products through the clinical trial process, the pharmaceutical industry is increasingly focusing on commercialization strategies to achieve return-on-investment targets. At the same time, the shift toward specialty and high-cost drugs within the clinical trial pipeline, with more products being brought to market by smaller manufacturers with fewer internal resources, and increasing complexity in commercial contracting (including governmental pricing pressure and formulary management strategies among commercial payors) has created a sharp increase in demand for outsourced commercialization services. Excellere’s thesis in commercialization services centers on the opportunity to surround manufacturers with a suite of integrated, best-in-class capabilities that deliver superior value to the client compared to single-point services providers and large broadline CRO offerings. These integrated solutions allow decision-makers to manage fewer outsourced providers while facilitating a transfer of clinical and therapeutic area knowledge across the range of commercialization activities.

Excellere has substantial experience supporting successful buy-and-build strategies among outsourced commercialization service companies. In 2014, Excellere invested in Trialcard, a founder-owned provider of medication adherence and hub services solutions. Over three years of partnership, the team made significant investments in technology development, transforming TrialCard into a leading, full-service provider of patient access and product support solutions, doubling the Company’s run-rate EBITDA through organic growth. Additionally, in 2016, Excellere invested in Two Labs, a provider of product launch and trade management services. During the four-year partnership, the company executed on a buy-and-build strategy, growing revenue nearly 5x by enhancing the commercial platform, funding the internal development of new capabilities, and strategic acquisitions.